Far East Hospitality Trust has announced a higher distribution per unit (DPU) from its earlier forecast. At its maiden results briefing, the trust says DPU per stapled security will be 2.09 cents. This compared to its forecast of only 2 cents during its initial public offering (IPO) in August. The higher distribution comes on the back of a rise in income available for distribution of S$33.6...
General
Pulau Seringat which forms part of Singapore’s southern islands has been zoned residential by the government under its new Land Use Plan, after being earmarked as a potential casino resort six years ago. Although some areas are still rustic, this tiny island south of Sentosa is showing signs of progress with paved roads, covered shelters and a visitors’ centre that welcomes boats docking at the jetty,...
The hype over shoebox property units seems to have cooled down. Sales transactions in these small private apartments have fallen by 46 per cent in the second half of 2012. In the second half of 2012, some 1372 units were transacted compared to 2539 units in the first half of last year. Experts cited fewer launches as developers focus on building bigger units to meet demand. Still, analysts said there...
A total of three bids were received by the Housing and Development Board (HDB) at the close of tender for a land parcel at Commonwealth Avenue. The land parcel is nestled in the Queenstown HDB estate, just across the street from Queenstown MRT Station. The site, which has a gross floor area of over 12,000 square metres or a maximum gross floor area of over 59,000 square metres, is planned for a private...
Hong Kong monetary chief Norman Chan said more measures might be necessary to cool the city’s housing market as elevated household debt added to risks from property price gains over the past four years, Bloomberg news agency reported on Monday. Debt is “near historic high levels,” Mr Chan, the chief executive of the Hong Kong Monetary Authority (HKMA), told lawmakers, citing ratios of 58 to 59 per...
National Development Minister Khaw Boon Wan said the core principle behind the pricing of new HDB flats remains affordability. Replying to questions in Parliament on Tuesday, he said the prices of new HDB flats are set based on the typical household income of families, the market price of similar resale flats in the vicinity, and the flat size and location. Mr Khaw said HDB applies a substantial price...
About S$22 million in resale levies are paid to the Housing and Development Board every year. National Development Minister Khaw Boon Wan said HDB receives close to 3,000 appeals to waive or reduce the levy every year. Several Members of Parliament rose to ask if help can be extended to those who have problems paying the levy. Member of Parliament for Aljunied GRC Pritam Singh asked if the ministry...
Rental movements across Singapore’s office, retail, industrial and residential segments are expected to be moderate this year, according to a report by Colliers International. Compared to 2012, rents of Grade A buildings are forecast to decline by five percent in 2013, while capital values could rise by five percent. Rents of luxury non-landed private housing could fall by 10 percent, while capital...
Global Logistic Properties (GLP) announced on Monday the expansion of GLP Japan Development Venture to US$2.2 billion. It will commit an additional 29 billion yen (US$316 million) to the joint venture to develop modern logistics properties in Japan. GLP has a 50 percent stake in the JV with Canada Pension Plan Investment Board. Singapore-listed GLP is one of the world's leading providers of modern...
Wing Tai Holdings on Monday reported second-quarter net profit surged from the corresponding period in the previous year, boosted by its property business. Net profit for the three months ended Dec 31 was up 159 per cent to S$88.7 million as revenue jumped 73 per cent to S$321.8 million, Wing Tai said. The stellar performance was due in large part to progressive sales in its projects such as Foresque...